Economy of the European Union
Moody's on Feb. 24 revised Turkey's economic growth forecast to 1.1% for 2020 from a 5% contraction and 3.5% for 2021 from 4%.
According to a report published by Moody's, the country's rate for 2022 was also revised up from 4% to 5%.
The report noted gross domestic product (GDP) is expected to increase in all G20 economies.
The Greek economy shrank a massive 10 percent in 2020, the European Commission said in its winter economic forecasts report published Thursday.
The Commission even forecasts that this lost ground will not be covered in 2021.
According to the report, Greece will achieve a 3.5 percent rebound in 2021 but predicts that growth will accelerate to 5 percent in 2022.
Eurozone unemployment was stable at 8.3% of the workforce in December, the European Union's statistics office Eurostat said on Monday, despite continued coronavirus lockdowns in most eurozone countries.
Still, Eurostat said 13.67 million people were out of work in the 19 countries sharing the euro in December, up from 13.62 million in November.
Since the European Central Bank launched its first quantitative easing program in 2015, a common topic among fund managers and in rating agency reports was the risk of the Japanification of the European bond market; that is the prospect of one of the biggest bond markets in the world shrinking constantly, with investors having ever decreasing options for purchases and opportunities for profits
Ljubljana – The Fiscal Council has warned that the latest legislative stimulus package contains certain provisions that may worsen the structure of public finances, including the proposal for simplified retirement and one-off aid to population groups not directly affected by the coronavirus epidemic.